To become a Vogue Business Member and receive the Technology Edit newsletter, click here.
Geeiq, a metaverse data intelligence company used by Gucci, Ralph Lauren, L’Oréal, Tommy Hilfiger and Karlie Kloss, has raised $8.2 million in a series A funding round. The London-based startup, pronounced “Geek”, provides insights into the return on investment (ROI) of investments in virtual worlds and digital goods.
Geeiq, which has about 30 employees, will use its new investment to hire new talent, expand geographically (including in the US) and develop proprietary relationships with leading platforms. Geeiq recently appointed Michel Cassius as chair, who previously worked at Apple, gaming company Electronic Arts and Microsoft Xbox.
The round was led by YFM Equity Partners, which specialises in business-to-business software startups, with participation from GFR Fund, which has invested in a number of gaming startups, and FOV Ventures, which invests in metaverse-based startups. Helen Villiers, investment director of YFM, says that “exciting market dynamics” provide a compelling reason for investing in Geeiq.
Global gaming revenue is expected to reach $312 billion in 2027, and advertising revenue is projected to nearly double to $100 billion in 2025, according to a June report from PwC. “People are spending more time gaming, so brands are directing advertising spend there. They need Geeiq to understand the market, data and return on investment of their advertising spend,” Villiers says.
Geeiq was founded in 2018 to provide a subscription-based platform for data on games, pulled from publicly available information, including details such as the ages, genders, incomes and brand affinities among games’ fans. It’s since evolved into a metaverse insights company, providing higher-tier memberships for brands. The package offered by Geeiq includes consultancy, introductions to developers and creators, and custom data insights on how digital items are sold and how to structure strategies on platforms such as Roblox, Zepeto, Decentraland and Fortnite.
This news is republished from another source.
